American electric vehicle major Tesla has reported record revenue and free cash flow for the Q3 CY2025, supported by high vehicle deliveries and energy storage deployments.

The electric vehicle maker posted total revenue of USD 28.1 billion, a 12 percent increase YoY. Free cash flow reached nearly USD 4 billion, which the company states is its highest.

Total vehicle deliveries reached 497,099 in the quarter, a 7 percent YoY growth. Deliveries of the Model 3 and Model Y rose by 9 percent to 481,166 units. Energy storage deployments were a record 12.5 gigawatt hours (GWh), up 81 percent YoY.

Gross Margin stood at 18 percent, a drop of 185 basis points from the previous year. Gross profit was USD 5.1 billion, up 1 percent.

Operating income fell 40 percent YoY to USD 1.6 billion, resulting in a 5.8 percent operating margin. This decline was due to increased operating expenses, which rose 50 percent YoY to USD 3.4 billion, alongside higher average vehicle costs and a shift in sales mix. Lower regulatory credit revenue also impacted profitability.

Net income attributable to common stockholders reached USD 1.4 billion, a 37 percent drop. Cash, cash equivalents and investments increased by USD 4.9 billion to USD 41.6 billion.

During the quarter, Tesla expanded its vehicle range, launching the Model 3 and Model Y Standard variants. The company also launched the Model Y Performance and the Model YL in China, a longer six-seat version.

In the energy sector, Tesla unveiled Megapack 3 and Megablock, its next-generation industrial storage products. Production for Megapack 3 is scheduled to begin at Megafactory Houston in 2026. The company also launched a new lease offer in the US for solar and Powerwall systems.

Tesla launched its ride-hailing service in the Bay Area using Robotaxi technology and began deploying version 14 of FSD (Supervised) in October. The Supercharger network expanded by over 3,500 stalls in the quarter, an 18 percent YoY growth and it launched its first v4 Supercharger cabinets.

“While we face near-term uncertainty from shifting trade, tariff and fiscal policy, we are focused on long-term growth and value creation. We are prudently making the necessary investments in our business, including future business lines, that we believe will drive incredible value for Tesla and the world across transport, energy and robotics,” the company said in a statement.

Tesla indicated that Cybercab, Tesla Semi and Megapack 3 remain on schedule for volume production starting in 2026. Production lines for Optimus, the humanoid robot, are being installed in anticipation of volume production. The lithium refinery in Texas is expected to begin production in Q4 2025.

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Pune-headquartered electric vehicle company Kinetic Watts and Volts, a subsidiary of Kinetic Engineering, has entered into a retail financing partnership with IDFC FIRST Bank to provide credit options across its dealership network.

The arrangement enables customers at Kinetic EV dealerships to access loan options, interest rates and instalment plans, subject to eligibility criteria. Ground teams from IDFC FIRST Bank will collaborate directly with dealership staff to process applications at the point of sale. The initiative coincides with the expansion of Kinetic EV’s retail footprint, which currently comprises over 65 operational sales, service and spare parts facilities in India.

Ajinkya Firodia, MD, Kinetic Watts and Volts, said, "For many customers, choosing an electric two-wheeler is not just about selecting the right product, but also about finding a purchase option that works for them. Our partnership with IDFC FIRST Bank gives customers greater choice at the point of purchase and strengthens the support available across our dealership network. With quick financing options, attractive EMI plans and exciting offers for eligible customers, we want to make the overall purchase journey simpler and more convenient. As we continue to expand our presence across markets, we look forward to making the journey towards electric mobility more accessible for more customers."

The tie-up leverages the bank's branch and operational network to support dealership sales in multiple regional markets. The companies are also developing customer schemes and promotional offers that will be announced at a later date.

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Chennai-headquartered two-wheeler and three-wheeler company TVS Motor Company conducted a single-day delivery event in Cuttack, Odisha, handing over more than 100 units of the TVS iQube MillionR Special Edition electric scooter to customers.

The MillionR Special Edition was launched on 25 August 2026 to mark the cumulative sales milestone of one million TVS iQube scooters. Based on the 3.5 kWh battery variant, the edition features an Aurora Green Dual Tone paint finish, custom seat upholstery and specific graphics alongside MillionR badging.

The e-scooter features a front utility storage compartment that expands overall storage capacity from 32 litres to 35.5 litres, an integrated USB Type-C charging port and over 118 connected features. The 3.5 kWh battery setup provides an Indian Driving Cycle (IDC) range of 145 km on a single charge.

In Odisha, the TVS iQube MillionR Special Edition is priced at INR 131,138 (effective ex-showroom). The standard TVS iQube range starts at INR 105,851 (effective ex-showroom), with Battery-as-a-Service (BaaS) option pricing starting at INR 59,999.

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More Retail, a leading supermarket and hypermarket chain, has expanded its electric mid-mile logistics operations through the deployment of 110 Montra Electric Eviator electric small commercial vehicles across its distribution network, including 25 units in Bengaluru.

The company shared that electric commercial vehicles now account for 150 of its 600 total mid-mile logistics fleet. The 110 Montra Electric Eviator units operate across daily store replenishment and delivery routes, covering a combined minimum distance of 22,000 kilometres per day. The transition from internal combustion engine vehicles aims to lower operational energy expenses and vehicle maintenance requirements while providing driver ergonomics for city traffic conditions.

Saju Nair, CEO of the e-SCV Division, Montra Electric, said, "Electrification of commercial mobility will accelerate when it delivers measurable business value at scale. More Retail’s journey towards 100 percent electrification with our Eviator, is a strong example of that shift, from evaluating EVs as an alternative to deploying them as a core part of everyday logistics. As More Retail moves towards a fully electric mid-mile fleet, our focus is to enable that transition with vehicles and an ecosystem built around uptime, efficiency and long-term profitability."

Prasanna Hegde, National Transport Manager, More Retail, said, "Our mid-mile fleet keeps our stores stocked every day, so reliability comes first for us. The move from ICE vehicles to Montra Electric's Eviator e-SCVs has been smooth across our distribution network. The vehicles have already covered over 8.8 lakh kilometres on our routes, and our drivers have responded well to their comfort, instant torque and day-to-day dependability. Alongside lower operating costs, we are cutting emissions with every delivery run. With 150 of our 600 mid-mile vehicles now electric, we are well on our way to a fully electric fleet, and Montra Electric has been a trusted partner at every step."

The Montra Electric Eviator features a 10.3-foot loading deck and a payload capacity of up to 1,707 kg. The vehicles are integrated with telematics systems that monitor battery status, driver metrics, and route planning data to maintain fleet uptime between distribution centres and retail outlets.

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South Korean energy major LG Energy Solution has signed a non-binding memorandum of understanding (MoU) with United States-based commercial electric vehicle startup indiGOtech to explore battery supply and technological collaboration.

Under the MoU, the companies will work toward a final agreement for LG Energy Solution to supply 46-series NCM cylindrical battery cells from 2027 to 2030 for indiGOtech’s Flow Ride and Flow Cargo vehicles.

The partnership involves vehicle-battery integration, performance verification, driving range extension, and charging time reduction. The agreement expands LG Energy Solution's client base for its 46-series cylindrical batteries, following a reported 1.5-fold YoY increase in cylindrical battery shipments in the second quarter.

Headquartered in Woburn, Massachusetts, indiGOtech specialises in commercial van platforms for the North American market, integrating vehicles, charging infrastructure and digital services.

Will Graylin, Chairman and CEO, indiGOtech, said, "Urban ride hail and delivery must electrify and automate at scale, but today’s electric vehicles are not designed for purpose, and are severely limited by the local charging infrastructure – that’s why vast majority of rides and deliveries are still driven by gas vehicles. Working toward a long-term relationship with LG Energy Solution brings together advanced battery technology for durable economic advantage for vehicles, drivers and fleet operators."

Sunghwan Oh, Mobility & IT Battery Marketing Group Leader, LG Energy Solution, said, "Based on LG Energy Solution’s 46-series NCM cylindrical battery technology that boasts high energy density and rapid charging capabilities, we will closely collaborate with indiGOtech, which is successfully building the Transportation-as-a-Service (TaaS) ecosystem in the U.S. Leveraging this partnership, we plan to enter the diverse commercial vehicle market in the U.S., including logistics, last-mile delivery, and ride-hailing."

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